Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The.
Speaker 2: Stock Movers Report, your roundup of companies making moves in
Speaker 2: the stock market, harnessing the power of Bloomberg Data.
Speaker 3: I think we want to get to some stockmovers, they're
Speaker 3: telling us Avalon Parnell here in our interactive broker studio Avalon,
Speaker 3: let's start with you brought some goodies with you. Snowflake
Speaker 3: having quite the day on Wall Street.
Speaker 1: Absolutely, that's ticker snow Currently it's surging about thirty nine percent,
Speaker 1: is on pace for its biggest one day jump since
Speaker 1: its debut in twoenty and twenty. That's have the software
Speaker 1: maker gave us stronger than expected full year guidance and
Speaker 1: also reported first quarter results that walloped expectations. Also worth
Speaker 1: noting that the company signed a six billion dollar multi
Speaker 1: year agreement to use Amazon's cloud services and chips and
Speaker 1: ever course, writing that unlike some of the other names
Speaker 1: that have really been sluggish for software, Snowflake looks like
Speaker 1: one of the very few clear AI winners in the space.
Speaker 4: It's so crazy because the story had been AI disruption
Speaker 4: to software providers, and now AI has begun the tailwind
Speaker 4: for this software provider. I can't believe it's only the
Speaker 4: biggest one day jump since twenty twenty, so there's been
Speaker 4: another day on which Snowflake stock has risen more than
Speaker 4: forty percent.
Speaker 1: To be fair, it is actually their debut happen in
Speaker 1: twenty twenty.
Speaker 4: I see Okay's biggest one day jump. Ever, we also
Speaker 4: have incredible strength in Dollar Tree, and clearly inflation is
Speaker 4: a problem that we've been dealing with for some time now.
Speaker 4: Concerns about the bottom portion of the K shaped economy
Speaker 4: have been growing. But why did it take so long
Speaker 4: for the market market to recognize that they may be
Speaker 4: shopping at discount stores like Dollar Tree.
Speaker 1: You're absolutely correct that Sticker dlt are currently gaining about
Speaker 1: sixteen percent for it also biggest inter day leap since
Speaker 1: twenty twenty two. That's after the chain reported better than
Speaker 1: expected first quarter results and also boosted its full year
Speaker 1: EPs guidance. Now, what is kind of important of note,
Speaker 1: kind of to your point about those lower income shoppers.
Speaker 1: They actually have been stepping into the stores less. However,
Speaker 1: the times that they are going, they are spending more.
Speaker 1: So to a certain extent, they are still seeing Dollar
Speaker 1: Tree as a must go.
Speaker 3: So they're spending more per transaction WRECT, which is really
Speaker 3: which is the meat right of this of this report.
Speaker 4: The goods they're also increasingly cost more than a dollars.
Speaker 3: Yes, so their name does not hold true anymore. It
Speaker 3: could be dollars Tree, dollars Tree. I think you're right,
Speaker 3: But also they weren't. Just to be fair, I know
Speaker 3: you didn't bring these stocks along with you today, but
Speaker 3: Coal's and Best Buy very different retailers from Dollar Tree,
Speaker 3: but still out with really strong numbers today. And again
Speaker 3: it just we just keep coming back to that word resilient.
Speaker 3: But despite high gas prices, despite inflation that is, you know,
Speaker 3: trending higher, consumers appear to be spending, but they are
Speaker 3: still looking for value, and I think that's what each
Speaker 3: CEO continued to drive home.
Speaker 1: You're absolutely right. We actually had a great article about
Speaker 1: that on the terminal as well, that in this economy
Speaker 1: really right now, shoppers are looking for the best of
Speaker 1: their dollar and they're still seeing Dollar Tree as a place, so.
Speaker 3: They'll spend as long as they see value in the spending.
Speaker 1: Yes, got it.
Speaker 4: Oh, it's funny that you bring up resilient because a
Speaker 4: buddy of mine who runs a company called resilient health.
Speaker 4: Dennish Nagda has been telling me four days now that
Speaker 4: Lily has got something in its pipeline that's going to
Speaker 4: be a game changer as far as heart conditions. They've
Speaker 4: got a one stop treatment that can help you avoid
Speaker 4: bad cholesterol. And they also made a bunch of acquisitions
Speaker 4: this week. Like, there's so much going on with this
Speaker 4: stock's what's the story with Eli?
Speaker 1: Lilly Absolutely, that's ticker ll Y. You're absolutely right. It's
Speaker 1: currently up about four point five percent earlier today actually
Speaker 1: hitting an inter day record high.
Speaker 4: Wow.
Speaker 1: And that's after CBS said that it will be reintroducing
Speaker 1: the company's weight loss drug, zet Bound to its patients
Speaker 1: as a covered medication. That's a really big deal since
Speaker 1: insurance coverage remains the biggest hurdle for getting more people
Speaker 1: on those weight loss shots. And Scotiabank actually writing that
Speaker 1: the decision is a really great positive heale went for Lily,
Speaker 1: especially into the second half of the year. That could
Speaker 1: potentially mean some upside to their guidance for the full year.
Speaker 3: And this week they bought three infectious disease companies, all
Speaker 3: privately held, right, and that the stock at a big
Speaker 3: Bolli acquisition or billion dollars worth.
Speaker 1: Yeah, absolutely. I mean big pharma is always trying to
Speaker 1: look for the next thing, what is going to be
Speaker 1: the next big weight loss, especially as starting things are
Speaker 1: going to be coming and losing their patent protection. ELI Lilly,
Speaker 1: like many.
Speaker 3: They're expanding beyond the very lucrative obesity drug arena.
Speaker 1: Have to go to the next one as well.
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